Author: BEX Staff

Groundbreakings 1. Kitchell Development Company recently broke ground on the $9.5M Cave Creek Crossing, a 47KSF retail center at the SWC Carefree Highway & Cave Creek Rd that will include the construction and buildout of a 30KSF Sprouts Farmers Market and construction of two retail buildings. The 10 acres of site work will include three pads for future development. Butler Design Group is the architect for the shell, BRR Architecture is the architect for Sprouts and A.R. Mays Construction is the general contractor. 2. Nearly 100 dignitaries, executives and guests gathered for the formal announcement and groundbreaking of a new…

By Tasha Anderson for AZBEX A Design Review Board Narrative was submitted to the City of Scottsdale for the development of Marvelle Arcadia, a new minimal residential healthcare facility at the NWC of east Thomas Road and north 61st Place. Berry Riddell LLC, on behalf of developer, Alliance Residential is requesting approval of a site plan, landscape plan and building elevations for the 160-unit senior living facility on approximately 5.78+ gross acres at 6080 E. Thomas Road. The developer wishes to keep the current site zoning of C-1, which allows for residential healthcare facilities. The three-story building will be situated…

Source: Mortenson With construction already underway on a number of new projects, master developer Catellus Development Corporation (Catellus) announced it will bring a 259-room, dual-branded hotel to the Novus Innovation Corridor (Novus) in Tempe through a partnership with national developer and builder Mortenson. The eight-story hotel, located just north of the NEC of the intersection of E. Veterans Way and E. 6th St. in Tempe, will be constructed on a .98-acre footprint within walking distance of Sun Devil Stadium, and is immediately adjacent to Wells Fargo Arena and the planned Multi-Purpose Arena. Amenities will be suited to visitors attending Arizona…

Sales Transactions 1. Bridge Investment Group has purchased the Verona Park apartment community at 1666 S. Extension Rd. in Mesa for $43.75M. Cindy Cooke and Brad Cooke of Colliers International of Arizona represented the seller, Millburn Company, and Bridge Investment Group was self-represented. 2. Microsoft Corp. has paid $37M for another 147 acres of land located north of the I-10 at PV303 West III. Microsoft Corp. purchased the land from DRI FR GOODYEAR LLC. 3. Tatum Investment Partners, LLC, an entity formed by Rockwell Partners, purchased the 164-unit, Class B Tatum Place apartment community located at 16801 N. 49th St,…

By Sammy Williams for AZBEX Trammell Crow Company of Dallas announced plans to develop nearly 29 acres located southwest of Power and Warner Roads in Gilbert. The proposed project, Gilbert Gateway Commerce Center, consists of three industrial/office buildings totaling approximately 416KSF. The subject site is located directly west of the existing American Furniture Warehouse and just north of the Santan 202 Freeway. According to the application, the area is zoned Light Industrial with a PAD overlay and is within the Gateway Character Area. The buildings, ranging from 124KSF to 153KSF, will be used for light manufacturing and warehousing and will…

By Tasha Anderson for AZBEX Arizona’s seasonally adjusted unemployment rate decreased to 5 percent in March, from 5.1 percent in February 2019, according to the latest report published by the Arizona Office of Economic Opportunity. The national rate remained at 3.8 percent from February. In March 2018, the state had a seasonally adjusted rate of 4.8 percent, and the national was at 4 percent. The state had a net gain of 6,300 non-farm jobs over the month, which is less than the historical 10-year (2009-2018) average gain of 9,200 jobs. Construction had the largest increase with 2,900, followed by Professional…

Giving Back 1. Over the course of 2018, Tierra Right of Way and its staff donated over $21K to the Community Food Bank of Southern Arizona. 2. Tierra Right of Way sponsored the 18th Annual Habitat for Humanity Women Build Event on March 9. Thousands of women and community members joined together to build simple, decent and affordable housing for those in need. Awards & Accolades 3. Cushman & Wakefield has announced its 2018 top producers in Phoenix. The firm honored the top individuals and teams in each of its brokerage service areas including capital markets, tenant representation and agency…

Groundbreakings 1. Path Construction Southwest has broken ground on the historic renovation of Arnold’s Pickle House in Phoenix. The project, being developed by Chicanos por La Causa, will be available for office/creative/ business space and is expected to be complete in October. SPS+ Architects is the architect. 2. Print.Save.Repeat held a groundbreaking ceremony for two warehouse and manufacturing facilities totaling more than 65KSF in the new business park north of Phoenix-Mesa Gateway Airport. Sun State Builders is the design-builder and general contractor and work is expected to finish in September 2019. 3. Jackson-Shaw and LaPour Partners announced the groundbreaking of…

By Tasha Anderson for AZBEX Developer, Serenade, LLC is working toward adding more affordable workforce housing in Sedona. A request has been submitted to the city for a Major Community Plan Amendment to redesignate the site from Single-Family Medium Density to Multifamily High Density, in order to construct 52 apartment units on 2.54 acres east of Andante Drive and northeast of the Lyric/Andante intersection. “Sedona has a critical shortage of professional affordable workforce housing as well as a shortage of areas designated in the Community Plan as Multifamily High Density on which to build such housing to alleviate this crisis.”…

By Corina Vanek for Phoenix Business Journal The City of Goodyear and Globe Corp., a Scottsdale-based developer, have taken the first step to partner in what the city hopes will be a catalyst for more West Valley development. At its April 8 meeting, the Goodyear council approved a letter of intent to enter into a public-private partnership with Globe to create a new city hall, community gathering place and Class A office space near 150th Drive and McDowell Road. Early plans call for Globe to develop the city facilities and donate the land, about 7 acres, to the city, while…